Citigroup Inc. Has $2.63 Million Stock Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Citigroup Inc. decreased its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Rating) by 60.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 134,554 shares of the biotechnology company’s stock after selling 202,411 shares during the period. Citigroup Inc.’s holdings in Rocket Pharmaceuticals were worth $2,633,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RCKT. Allspring Global Investments Holdings LLC acquired a new stake in shares of Rocket Pharmaceuticals during the third quarter worth approximately $28,000. Great West Life Assurance Co. Can acquired a new stake in shares of Rocket Pharmaceuticals during the third quarter worth approximately $40,000. Point72 Hong Kong Ltd acquired a new stake in shares of Rocket Pharmaceuticals during the third quarter worth approximately $100,000. Tower Research Capital LLC TRC increased its holdings in shares of Rocket Pharmaceuticals by 175.0% during the third quarter. Tower Research Capital LLC TRC now owns 10,761 shares of the biotechnology company’s stock worth $171,000 after buying an additional 6,848 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Rocket Pharmaceuticals during the third quarter worth approximately $177,000. Institutional investors and hedge funds own 93.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on RCKT shares. Morgan Stanley initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, February 1st. They set an “overweight” rating and a $45.00 price objective for the company. StockNews.com initiated coverage on shares of Rocket Pharmaceuticals in a research note on Thursday, May 18th. They set a “sell” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 19th. Chardan Capital decreased their price target on shares of Rocket Pharmaceuticals from $63.00 to $61.00 in a research note on Friday, May 5th. Finally, William Blair reissued an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.09.

Insider Activity

In other news, insider John Militello sold 2,342 shares of the business’s stock in a transaction on Friday, April 21st. The shares were sold at an average price of $18.65, for a total value of $43,678.30. Following the completion of the transaction, the insider now owns 5,636 shares of the company’s stock, valued at approximately $105,111.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 33.67% of the stock is owned by company insiders.

Rocket Pharmaceuticals Price Performance

RCKT opened at $22.24 on Wednesday. Rocket Pharmaceuticals, Inc. has a 52 week low of $9.50 and a 52 week high of $23.48. The firm has a market capitalization of $1.79 billion, a PE ratio of -6.64 and a beta of 1.23. The company has a debt-to-equity ratio of 0.04, a quick ratio of 10.83 and a current ratio of 10.83. The company has a fifty day moving average price of $18.56 and a two-hundred day moving average price of $19.31.

Rocket Pharmaceuticals (NASDAQ:RCKT – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.11. During the same quarter last year, the business posted ($0.67) earnings per share. As a group, analysts anticipate that Rocket Pharmaceuticals, Inc. will post -3.08 earnings per share for the current year.

Rocket Pharmaceuticals Company Profile

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Rocket Pharmaceuticals, Inc is a clinical-stage biotechnology company, which engages in the development of gene therapy treatment options for rare and devastating pediatric diseases. Its multi-platform development approach applies the lentiviral vector and adeno-associated viral vector gene therapy platforms.